Lenders definitely liked seeing a bigger down payment when I was refinancing, but honestly, having that emergency fund gave me way more peace of mind. After bankruptcy, I just couldn’t stomach the idea of being house-poor if something major broke. I ended up splitting the difference—put down enough to get a decent rate, but kept a chunk aside for those “everything breaks” moments. It’s not the fastest way to build equity, but it helped me sleep at night.
That’s pretty much the route I took too—kept a decent chunk in savings instead of dumping it all into the house. After going through a job loss years ago, I just can’t shake that “what if” feeling. Curious, did you find lenders were flexible about your down payment split, or did you have to push back? Some folks told me banks wanted every penny up front, but my experience was mixed.
- Keeping a cash buffer is smart, especially after what you’ve been through.
- Lenders can be all over the place—some want the max down, others care more about your overall profile. I’ve seen clients get pushback, but usually there’s wiggle room if you’re firm about your needs.
- It’s not always in your best interest to drain savings for a bigger down payment. A little leverage and some liquidity can save your skin if life throws a curveball.
- Don’t let anyone pressure you into putting every cent down. The “what if” feeling is legit—sometimes it’s worth listening to that gut instinct.
- Totally agree on not emptying your savings just for a bigger down payment.
- In my experience, banks love to see a healthy reserve—it actually makes you look less risky, even post-bankruptcy.
- Sometimes putting too much down doesn’t really move the needle on rates or approval odds anyway.
- Had a client once who kept a chunk back “just in case”—ended up needing it for an emergency repair six months later. That buffer saved them a ton of stress.
- One thing I’d add: shop around. Some lenders are way more flexible than others, especially if you can show consistent income and responsible habits since the bankruptcy.
Yeah, I’ve been down this road and honestly, keeping a cushion in your savings is way underrated. Life loves to throw curveballs—like the time my water heater decided to die right after I moved in. If I’d dumped every penny into the down payment, I’d have been showering at the gym for weeks. Lenders definitely notice when you’ve got some backup cash too. Rates didn’t really budge much for me whether I put 10% or 15% down, so I just kept enough aside to sleep at night. Shopping around is huge—some lenders are surprisingly chill if you show them you’ve got your act together since the bankruptcy.
